Business
Aqua Metals Announces 2020 Results
Recent Highlights: Completed V1.25L Aqualyzer program; achieved a 100% improvement in lead production throughput, in addition to improved equipment and
About this update from Aqua Metals, Inc.
[{"type":"text","content":"Recent Highlights: Completed V1.25L Aqualyzer program; achieved a 100% improvement in lead production throughput, in addition to improved equipment and operating costsContinued progress with potential licensing partners; ongoing discussions with several parties on three continents, inclusive of ClariosSubmitted provisional patent to protect process enabling ultra-pure AquaRefined material to be utilized directly in the production of oxide for new batteriesEstablished partnership with BASF, including a commitment to supply AquaRefining electrolyte to licensees and commercial cooperation to offer Aqua Metals servicesSecured investment in LINICO Corporation (“LiNiCo”), a cleantech lithium-ion battery recycling innovatorEstablished plans to form an eco-network with other innovative companies to advance recycling technologies for lithium-ion batteriesSubmitted provisional patent to protect the process for the application of AquaRefining technology to plate metals used in lithium-ion batteriesRetired $9.0 million debt obligation through utilization of insurance escrow and CD collateral funds, resulting in Aqua Metals being debt freeRaised approximately $10.7 million ($3.7 million in 2020, remainder in 2021) through opportunistic share sales utilizing the At The Market Issuance Sales Agreements (“ATM”); established second ATM for up to $30.0 million for strategic optionalityFinalized triple-net lease-to-buy agreement for non-core plant facility with a strategic lessee; includes non-refundable purchase deposits totaling $3.25 million, to be paid during the lease termReceived additional insurance payment of $0.1 million on February 10, bringing the total collected to $23.5 million; anticipate additional proceeds for the replacement value of damaged assets, not including potential business interruption recovery proceeds MCCARRAN, Nev., Feb. 25, 2021 (GLOBE NEWSWIRE) -- Aqua Metals, Inc. (NASDAQ: AQMS) (\"Aqua Metals\" or the \"Company\"), which is reinventing metals recycling with its AquaRefining™ technology, today announced results for the year ended December 31, 2020. Steve Cotton, President and Chief Executive Officer, commented, “Aqua Metals ended 2020 with tremendous momentum that has continued into 2021. After a difficult end to 2019, our team rose to the challenge, showing tremendous resiliency and demonstrated the ability to deli...